KT Q1 net profit down 32 pct to 309.6 bln won

KT-Q1 earnings

KT Q1 net profit down 32 pct to 309.6 bln won

SEOUL, May 11 (Yonhap) -- KT Corp. on Thursday reported its first-quarter net income of 309.6 billion won (US$234.2 million), down 32 percent from a year earlier.

Operating profit for the January-March period was 486.1 billion won, down 22.4 percent from a year ago, the company said in a regulatory filing. Revenue rose 2.6 percent to 6.44 trillion won.

The earnings failed to meet market expectations. The average estimate of net profit by analysts stood at 337.5 billion won, according to a survey by Yonhap Infomax, the financial data firm of Yonhap News Agency.

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